India: Limited Bookings Reported for South African Lump

West India (Gujarat) based steel mills have lessened bookings South African lump import vessels amid higher global iron ore offers. Fe 62% fines index is at USD 74.6/MT, CFR China against USD 72/MT a month ago. According to market sources report to SteelMint, assessment for South African lump to India is heard to have decreased to around USD 95/MT, CNF Kandla.

"One capsize vessel of lumps (containing mix of Assmang and Kumba) and one capsize vessel of Assmang fines, has been booked by a trader for February shipment", shared a South African lump trader.

Jindal SAW hikes pellet offers

West India (Rajasthan) based pellet maker - Jindal SAW has increased pellet prices by INR 300/MT. Current offers for Fe 63% grade pellets have moved up to INR 7,800/MT (delivered Kandla) against the previous assessment of INR 7,500/MT towards the end of last week. The pellet price rise may support lump demand. Gujarat based mills are procuring domestic pellets & iron ore rather than going for imported lump.

Lump Premium dropped down to USD 0.3490/DMTU

Lump premium have dropped down this week to USD 0.3490/DMTU as against USD 0.3500/DMTU last week amidst lower steel margins and preference for domestic pellet as a comparatively inexpensive feedstock in China.

List of iron ore import vessels to India in Jan'19

Qty in MT
Provisional Data, updated till 22nd Jan
Source: SteelMint Stats, Customs

South Africa iron ore export shipments increased in CY'18

Indian imports of iron ore from South Africa in CY18 recorded at 3.36 MnT, up 62% against 2.08 MnT in CY17. Post resumption at Saldanha port in Oct'18, the port picked up exports in Nov'18 and Dec'18.

Indian imports of South African lumps in Dec'18 witnessed at 0.4 MnT against 0.06 MnT a month before.